NVM exits travel tech business to Banyan Software
NVM Private Equity (“NVM”) announces the successful sale of Intuitive Limited, a UK-based technology provider of end-to-end reservation platforms for the travel industry, to Banyan Software.
Intuitive is at the forefront of innovative and scalable travel technology systems with their flagship product, iVector, recognised as one of the most advanced platforms to manage travel bookings and meet evolving consumer demand with greater flexibility and technical sophistication. The company has since grown to become a trusted partner for tour operators, hotel wholesalers, and online travel agents, offering solutions that manage product sourcing, pricing, and booking fulfilment with blue-chip clients including loveholidays and On The Beach.
Under NVM’s ownership, Intuitive has solidified its position in the global travel technology market whilst developing new innovative solutions for travel operators. The exit marks a significant milestone, underscoring the growth and success achieved during the investment period and provides a realisation for Mercia’s Northern VCT Funds alongside other funds managed by NVM which held a majority equity stake in the business.
Paul Nixon, Founder and Chief Executive Officer of Intuitive said “We’re proud of what the team has built with the support of NVM and are excited for this next chapter with Banyan. NVM not only provided the capital investment, but they have been highly proactive in their approach, and I have personally valued their input and expertise as part of our Board team.”
The investment for NVM has been managed by Charlie Pidgeon and Karl Cockwill, who said “Our partnership with Intuitive has been incredibly rewarding. With our support, the business has displayed both remarkable resilience during the global lockdown of Covid and then innovation leading to strong growth as the business went through a transformational journey. We are proud of the role we have played in supporting Paul to develop the business to this point and are confident that Intuitive will continue to thrive as part of the Banyan family.”
Advisors to NVM on the sale were
- Corporate Finance: Strata Partners advised the shareholders of Intuitive Systems (Robert Lees and Alistair Armstrong-Brown)
- Legal: Womble Bond Dickinson (Ben Butler, Becky Brook).
